In a premium car market on rise, Volvo managed to grew rapidly and to prove everyone that it can challenge the three most important players in the segment: Audi, BMW and Mercedes. 2015 was a very good year for Volvo, with record sales.

Volvo Cars sold 503,127 cars in 2015. It is the first time it has sold more than half a million cars in its 89 year history.

Volvo reported good sales from all three core global regions. Sales in Europe rose 10.6 percent for the year to 269,249, representing 53.5 percent of total global volume. Volvo’s revival in the US gained momentum with sales in the US up 24.3 percent in 2015 while China was flat but looked stronger at the end of the year with sales up 11.4 percent in the fourth quarter.

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I am delighted to report that 2015 was a year of record sales,” said Hakan Samuelsson, chief executive. “Now, with a successful 2015 behind us, Volvo is about to enter the second phase of its global transformation. Once completed, Volvo will have ceased being a minor automotive player and taken its position as a truly global premium car company. More records will tumble in coming years.”

2015 sales were helped by the introduction of XC90 in summer. 2016 will be helped by the introduction of the new Volvo S90 in April. Audi A6, BMW 5 Series and ercedes E-Klasse will have to look very careful at their Swedish competitor.